Maverick Capital Ltd. Purchases New Holdings in Advance Auto Parts, Inc. (NYSE:AAP)

Maverick Capital Ltd. purchased a new stake in Advance Auto Parts, Inc. (NYSE:AAP) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 47,761 shares of the company’s stock, valued at approximately $4,457,000. Maverick Capital Ltd. owned 0.07% of Advance Auto Parts as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Amalgamated Bank increased its position in Advance Auto Parts by 3.6% during the 4th quarter. Amalgamated Bank now owns 10,525 shares of the company’s stock worth $1,686,000 after purchasing an additional 361 shares during the period. Bank of America Corp DE grew its holdings in shares of Advance Auto Parts by 52.5% in the 4th quarter. Bank of America Corp DE now owns 1,132,971 shares of the company’s stock worth $181,457,000 after acquiring an additional 390,256 shares during the period. Heartland Advisors Inc. grew its holdings in shares of Advance Auto Parts by 37.0% in the 4th quarter. Heartland Advisors Inc. now owns 39,003 shares of the company’s stock worth $6,247,000 after acquiring an additional 10,535 shares during the period. Madison Wealth Management acquired a new stake in shares of Advance Auto Parts in the 4th quarter worth approximately $344,000. Finally, Man Group plc grew its holdings in shares of Advance Auto Parts by 121.7% in the 4th quarter. Man Group plc now owns 35,293 shares of the company’s stock worth $5,653,000 after acquiring an additional 19,376 shares during the period. Institutional investors own 96.85% of the company’s stock.

In other news, CAO Andrew E. Page sold 720 shares of the company’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $141.38, for a total transaction of $101,793.60. Following the completion of the sale, the chief accounting officer now directly owns 7,008 shares in the company, valued at approximately $990,791.04. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 4.10% of the company’s stock.

A number of equities research analysts recently weighed in on the company. TheStreet cut Advance Auto Parts from a “b-” rating to a “c+” rating in a report on Monday, March 16th. Nomura Securities restated a “hold” rating and issued a $107.00 price target (down previously from $115.00) on shares of Advance Auto Parts in a report on Monday, April 13th. Jefferies Financial Group upped their price target on Advance Auto Parts from $151.00 to $157.00 and gave the stock a “buy” rating in a report on Wednesday, May 20th. Wedbush upped their price target on Advance Auto Parts from $120.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, May 20th. Finally, Credit Suisse Group lowered their price target on Advance Auto Parts from $175.00 to $133.00 and set an “outperform” rating on the stock in a report on Monday, March 30th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $143.85.

Shares of AAP stock traded down $5.21 on Wednesday, reaching $144.76. 170,421 shares of the stock were exchanged, compared to its average volume of 919,393. The stock has a market cap of $10.27 billion, a P/E ratio of 27.00, a price-to-earnings-growth ratio of 2.25 and a beta of 1.30. The company has a quick ratio of 0.42, a current ratio of 1.36 and a debt-to-equity ratio of 0.92. The firm has a 50 day moving average of $135.26 and a two-hundred day moving average of $131.96. Advance Auto Parts, Inc. has a 1-year low of $71.33 and a 1-year high of $171.43.

Advance Auto Parts (NYSE:AAP) last released its quarterly earnings data on Tuesday, May 19th. The company reported $0.91 EPS for the quarter, missing analysts’ consensus estimates of $1.75 by ($0.84). The firm had revenue of $2.70 billion for the quarter, compared to analyst estimates of $2.68 billion. Advance Auto Parts had a return on equity of 13.20% and a net margin of 4.10%. The company’s quarterly revenue was down 8.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.46 earnings per share. On average, equities research analysts predict that Advance Auto Parts, Inc. will post 6.3 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 3rd. Stockholders of record on Saturday, June 13th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, June 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.69%. Advance Auto Parts’s payout ratio is 12.21%.

Advance Auto Parts Profile

Advance Auto Parts, Inc provides automotive replacement parts, accessories, batteries, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. The company offers battery accessories, belts and hoses, brakes and brake pads, chassis and climate control parts, clutches and drive shafts, engines and engine parts, exhaust systems and parts, hub assemblies, ignition components and wires, radiators and cooling parts, starters and alternators, and steering and alignment parts.

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Institutional Ownership by Quarter for Advance Auto Parts (NYSE:AAP)

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